British multinational investment bank HSBC plans to buy virtual LAND in Sandbox for user engagement with international financial service providers and the sporting world.
The new partnership is expected to pave the way for rival institutions to advance their progress in Web3 amid growing demand from consumers.
The Chief Marketing Officer of HSBC Asia Pacific, Suresh Balaji, remarks that metaverse will be the gateway to how people experience the new Web 3 internet.
The Sandbox continues to grow as a decentralized gaming virtual world where companies engage in the digital economy. The blockchain has partnered with major brands, including Adidas, Gucci, Atari, and Warner Music Group.
Metaverse is an immersive virtual space based on blockchain technology that gives users interactive experiences. The sector is currently expected to expand to $1.5 trillion by 2030 from $45.4 billion recorded in 2019.
Source: The Sandbox